FedEx (NYSE:FDX) PT Set at $260.00 by UBS Group

Posted by on Mar 19th, 2023

FedEx (NYSE:FDX – Get Rating) has been assigned a $260.00 price objective by research analysts at UBS Group in a report released on Friday, The Fly reports. UBS Group’s price target points to a potential upside of 18.02% from the company’s previous close.

FDX has been the topic of several other research reports. Susquehanna raised their price target on shares of FedEx from $170.00 to $225.00 in a research report on Friday. JPMorgan Chase & Co. increased their price objective on shares of FedEx from $199.00 to $233.00 in a report on Friday. Robert W. Baird increased their price objective on shares of FedEx from $230.00 to $250.00 in a report on Friday. The Goldman Sachs Group raised their price target on shares of FedEx from $218.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Barclays raised their price target on shares of FedEx from $240.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $230.75.

FedEx Trading Up 8.0 %

Shares of FedEx stock opened at $220.31 on Friday. The firm has a market capitalization of $55.61 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 1.20 and a beta of 1.31. FedEx has a 12-month low of $141.92 and a 12-month high of $248.76. The firm’s 50 day simple moving average is $201.14 and its two-hundred day simple moving average is $181.41. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.83.

FedEx (NYSE:FDX – Get Rating) last released its quarterly earnings data on Thursday, March 16th. The shipping service provider reported $3.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.74. The firm had revenue of $22.17 billion for the quarter, compared to analyst estimates of $22.74 billion. FedEx had a net margin of 3.54% and a return on equity of 19.17%. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.59 earnings per share. Analysts predict that FedEx will post 13.53 EPS for the current year.

Insider Activity

In other FedEx news, Director Amy B. Lane bought 280 shares of FedEx stock in a transaction dated Tuesday, January 3rd. The stock was acquired at an average cost of $175.83 per share, with a total value of $49,232.40. Following the completion of the acquisition, the director now owns 1,529 shares of the company’s stock, valued at $268,844.07. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 8.62% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Wedbush Securities Inc. raised its holdings in FedEx by 26.7% during the third quarter. Wedbush Securities Inc. now owns 8,998 shares of the shipping service provider’s stock worth $1,336,000 after purchasing an additional 1,898 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in FedEx by 12.4% during the third quarter. Janney Montgomery Scott LLC now owns 112,949 shares of the shipping service provider’s stock worth $16,770,000 after purchasing an additional 12,455 shares in the last quarter. Raymond James & Associates raised its holdings in FedEx by 5.8% during the third quarter. Raymond James & Associates now owns 348,770 shares of the shipping service provider’s stock worth $51,784,000 after purchasing an additional 19,145 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in FedEx by 14.3% during the third quarter. Benjamin Edwards Inc. now owns 2,697 shares of the shipping service provider’s stock worth $400,000 after purchasing an additional 337 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in FedEx by 4.3% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 793,357 shares of the shipping service provider’s stock worth $117,790,000 after purchasing an additional 32,968 shares in the last quarter. 72.02% of the stock is owned by hedge funds and other institutional investors.

FedEx Company Profile

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FedEx Corp. provides a broad portfolio of transportation, e-commerce and business services under the FedEx brand. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.

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